14/2/2022

Frontier IP's Neil Crabb joins Proactive London's Katie Pilbeam after selling further shares in Exscientia PLC, an artificial intelligence (AI)-driven drug developer, for a net $4.3mln (£3.2mln).

It will use the proceeds for general working capital purposes and to provide further support to its existing portfolio companies.

Including the sale of Exscientia shares last month, Frontier has sold a total of 391,200 Exscientia ADSs for net proceeds of about $8.3mln, generating an estimated realised gain of £2.79mln for Frontier in its financial year to end June 2022.

They also discuss portfolio company Cambridge Raman Imaging (CRI) which is to receive a grant from the European Innovation Council's Transition awards to fund the development of a low-cost cancer diagnostic as part of the CHARM project.

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Frontier IP Group plc published this content on 14 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2022 14:12:01 UTC.